CFTC sues Goliath Ventures over $397M crypto Ponzi, CEO already guilty

The Commodity Futures Trading Commission on Wednesday sued Goliath Ventures and its chief executive, Christopher Delgado, for allegedly running a cryptocurrency Ponzi scheme that raised nearly $397 million from about 1,611 customers. The suit follows Delgado's June 30 guilty plea to federal wire fraud and money laundering charges.

The CFTC complaint paints a picture of a company that collected Bitcoin, Ether, and other cryptocurrencies between November 2022 and February 2026 by promising investors returns from liquidity pools on decentralized exchanges. No customer funds ever entered those pools, the regulator said. Instead, the money was used to pay earlier investors, cover commissions for bringing in new customers, and fund Delgado's personal spending.

Goliath's marketing materials claimed returns of up to 3% a month, or 36% a year. Some agreements even guaranteed investor capital alongside profits of up to 5% a month, according to the complaint. None of it was real.

The CFTC traced $87 million used to pay off existing customers and $174 million paid to directors and employees, often as commissions for recruiting new investors. At least $48 million was siphoned off by Delgado personally, the regulator said.